Citigroup Upgrades Owens & Minor (NYSE:OMI) to Buy

Citigroup upgraded shares of Owens & Minor (NYSE:OMI) from a neutral rating to a buy rating in a report issued on Friday, Marketbeat Ratings reports. They currently have $19.00 price target on the stock, down from their prior price target of $24.00.

Several other brokerages have also recently issued reports on OMI. StockNews.com cut Owens & Minor from a buy rating to a hold rating in a report on Thursday, May 23rd. Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an underperform rating on the stock in a report on Tuesday, June 25th. Finally, Robert W. Baird decreased their price objective on Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $20.63.

Owens & Minor Stock Up 3.4 %

NYSE OMI opened at $15.32 on Friday. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $20.49. The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. Owens & Minor has a 12 month low of $12.36 and a 12 month high of $28.35. The stock has a market cap of $1.17 billion, a PE ratio of -30.04, a P/E/G ratio of 0.48 and a beta of 0.25.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Research analysts predict that Owens & Minor will post 1.53 EPS for the current fiscal year.

Insider Activity

In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the transaction, the executive vice president now owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the transaction, the executive vice president now owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Beck sold 9,344 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the transaction, the director now directly owns 11,154 shares in the company, valued at approximately $192,406.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,923 shares of company stock valued at $562,711. 3.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens & Minor

Hedge funds have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC grew its position in shares of Owens & Minor by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 19,142 shares of the company’s stock worth $258,000 after buying an additional 1,764 shares in the last quarter. Burney Co. bought a new position in shares of Owens & Minor during the 1st quarter worth $271,000. Kennedy Capital Management LLC grew its position in shares of Owens & Minor by 42.6% during the 1st quarter. Kennedy Capital Management LLC now owns 525,849 shares of the company’s stock worth $14,571,000 after buying an additional 157,038 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Owens & Minor by 11.8% during the 1st quarter. Bridgeway Capital Management LLC now owns 591,174 shares of the company’s stock worth $16,381,000 after buying an additional 62,509 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Owens & Minor during the 1st quarter worth $120,000. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.